I don’t watch a lot of TV shows (I’m more into movies) and with the TV remote to myself a couple of weeks ago I decided to check out Shark Tank.
This is the show where entrepreneurs come on and pitch their products and business to high-profile investors. I found it interesting from both an entrepreneurial perspective (I’m in a partnership that has a product in development) and more so as a speaker trainer.
The entrepreneurs are seeking a YES to getting funding for their business in return for a percentage stake. so they need to present and sell themselves well. The investors are not just buying into the product or business model, they also assess the entrepreneur and how likely they are to work with them.
If you are selling something, it definitely helps to have the skills to communicate the value to the audience and sell the proposal.
What are some of the things that make the difference to getting a yes?
It’s the same whether you are pitching a product to an investor, pitching to individual clients or a large audience, or even pitching for a job.
1. Like any speaking, it starts with confidence. Specifically here, you want need to demonstrate complete confidence in what you are selling so you can respond to any questions easily and smoothly PLUS you won’t sell yourself short. Investors will counter-offer, or you may find yourself counter-offering in your head before you even get to the price-point of your product. Be confident of your product and the value you are providing.
2. Be clear on your intention – what do you want to get out of a presentation? What does YES look like to you?
A yes is not always an obvious verbal YES on the spot. Sometimes it’s more subtle during a presentation – people listening, responding, asking questions. Someone taking action on your message or suggestions is a form of YES. Be clear on what you want to achieve from your presentation – it will help guide your actions as well as step 3 of this article to achieve success.
2. Be prepared with your presentation by having a strategy with what you present, knowing how to gear it towards your specific audience. What will be the key motivators that will drive your audience to say yes?
Hint, it might be different to what motivates you!
On this particular show, this one lady was trying to sell it largely on her passion. She was so passionate about her product and what it could do with the end-client that she thought that would be the most important thing to both the investor and the success of her business.
Passion will help drive you and your business, but it won’t drive sales. That’s what the investors was pointing out to this lady. Your product or service has to stand on it’s own.
I think the exception on passion, would be when your passion for a purpose or mission connects with your buyer and they share your larger purpose or mission.
There again, it is about your audience or buyer – what purpose or mission drives them?
So do your homework, and perhaps a bit of mind-reading to work out what will motivate your audience to say yes to you? You might even be able to put the question to your audience – either in a live setting or via survey.
Be confident, have intention and back that up with a sound strategy to get a YES with your next presentation.